VSTECS Holdings Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	97,626	89,086	73,891	77,324	78,335
Revenue Growth (YoY)	9.59%	20.56%	-4.44%	-1.29%	11.97%
Cost of Revenue	93,272	85,157	70,395	73,946	74,696
Gross Profit	4,354	3,929	3,497	3,378	3,639
Selling, General & Admin	2,504	2,269	2,071	2,065	2,044
Other Operating Expenses	-137	-5.56	2.09	-5.26	-13.74
Operating Expenses	2,367	2,263	2,073	2,060	2,030
Operating Income	1,986	1,666	1,424	1,318	1,609
Interest Expense	-368.03	-404.24	-340.05	-258.49	-146.52
Interest & Investment Income	-	38.3	29.26	20.17	20.57
Earnings From Equity Investments	95.22	60.74	67.11	12.01	40.45
EBT Excluding Unusual Items	1,714	1,360	1,180	1,092	1,524
Gain (Loss) on Sale of Investments	-	-4.78	-17.94	-10.12	31.37
Pretax Income	1,714	1,356	1,162	1,082	1,555
Income Tax Expense	278.04	239.56	240.17	258.71	241.11
Earnings From Continuing Operations	1,436	1,116	922.03	823.07	1,314
Minority Interest in Earnings	-82.04	-64.19	-	-	-
Net Income	1,353	1,052	922.03	823.07	1,314
Net Income to Common	1,353	1,052	922.03	823.07	1,314
Net Income Growth	28.66%	14.09%	12.02%	-37.36%	23.09%
Shares Outstanding (Basic)	1,386	1,390	1,405	1,415	1,417
Shares Outstanding (Diluted)	1,386	1,390	1,405	1,415	1,417
Shares Change (YoY)	-0.31%	-1.05%	-0.73%	-0.12%	0.15%
EPS (Basic)	0.98	0.76	0.66	0.58	0.93
EPS (Diluted)	0.98	0.76	0.66	0.58	0.93
EPS Growth	29.06%	15.32%	12.85%	-37.30%	22.91%
Free Cash Flow	-	1,691	601.41	45.37	641.83
Free Cash Flow Per Share	-	1.22	0.43	0.03	0.45
Dividend Per Share	-	0.257	0.257	0.170	0.270
Dividend Growth	-	-	51.18%	-37.04%	22.73%
Gross Margin	4.46%	4.41%	4.73%	4.37%	4.64%
Operating Margin	2.04%	1.87%	1.93%	1.70%	2.05%
Profit Margin	1.39%	1.18%	1.25%	1.06%	1.68%
Free Cash Flow Margin	-	1.90%	0.81%	0.06%	0.82%
EBITDA	2,035	1,715	1,471	1,363	1,647
EBITDA Margin	2.08%	1.93%	1.99%	1.76%	2.10%
D&A For EBITDA	48.82	48.82	47.32	44.99	37.82
EBIT	1,986	1,666	1,424	1,318	1,609
EBIT Margin	2.04%	1.87%	1.93%	1.70%	2.05%
Effective Tax Rate	16.23%	17.67%	20.66%	23.91%	15.50%

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.